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Amalgamated Bank Announces Launch of Common Stock Offering

NEW YORK, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Amalgamated Bank (“Amalgamated”) (AMAL) today announced the launch of an underwritten public offering of 2,000,000 shares of its Class A common stock, subject to market and other conditions. In addition, the underwriters will have a 30-day option to purchase up to an additional 300,000 shares of Class A common stock. All of the shares being sold in the offering are being sold by stockholders of Amalgamated. Amalgamated will not receive any proceeds from the sale of Class A common stock by the selling stockholders. Barclays and J.P. Morgan will act as joint book-running managers.

The offering will be made only by means of an offering circular. The preliminary offering circular relating to the offering may be obtained from: Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, e-mail: barclaysprospectus@broadridge.com, or by calling (888) 603-5847; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation or the New York State Department of Financial Services.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements about Amalgamated’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipates,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Any forward-looking statements are qualified in their entirety by reference to the factors discussed in the section titled “Risk Factors” in Amalgamated’s preliminary offering circular relating to this offering, including the documents incorporated by reference therein, and other risks described in documents subsequently filed by Amalgamated from time to time. Further, any forward-looking statement speaks only as of the date on which it is made, and Amalgamated undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

About Amalgamated Bank
Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of 14 branches in New York City, Washington D.C., and San Francisco, and a presence in Pasadena, CA and Boulder, CO. Amalgamated was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country’s oldest labor unions. Amalgamated provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of September 30, 2018, total assets were $4.6 billion, total net loans were $3.2 billion, and total deposits were $4.0 billion. Additionally, as of September 30, 2018, the trust business held $30.2 billion in assets under custody and $12.3 billion in assets under management.

Media Contact:
Kaye Verville
The Levinson Group
kaye@mollylevinson.com
202-244-1785

Investor Contact:
Jamie Lillis
Solebury Trout
shareholderrelations@amalgamatedbank.com
800-895-4172